PBOC Strengthens Yuan By Most In 2 Months As Golden Week Looms

PBOC Strengthens Yuan By Most In 2 Months As Golden Week Looms

Tyler Durden’s pictureSubmitted by Tyler Durden on 02/03/2016 20:27 -0500
http://www.zerohedge.com/news/2016-02-03/pboc-strengthens-yuan-most-2-months-golden-week-looms

With just one more day of trading before China’s lunar new year and Sping Festival Golden Week holiday, it appears The PBOC wants to flex its intervention muscles. By strengthening the Yuan fix by 0.16% (the most in 2 months) to 1-month highs, it seems China is trying to send a message before it practically closes for a week…

Of course today’s USD collapse is not going to help their ‘devaluation’ case…

China will be practically closed from Feb 7th until re-opening on Monday Feb 15th and so one wonders if this is a last ditch attempt to dissipate speculators before they are left somewhat to their own devices for a week?

Leave a Reply